SP cupped his hands at CS

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The Social Democrats are the harshest critics of the acquisition of CS by UBS, for which the federal government is responsible for 209 billion francs. The SP adds that part of the guarantees that the National Bank (SNB) cancels – “which could cause the SNB to suffer a major loss”. And that is precisely why there is again the risk that the National Bank will not be able to distribute money among the cantons. “In the end, it all comes at the expense of the taxpayer. Credit Suisse has been able to pay billions in bonuses for years, but the citizens have to bleed for it,” was the tenor among the comrades.

But if you use the same consistent standards for the SP as the Social Democrats do for others, then you should bear in mind: the SP also reaches out to the CS. Not the party itself, but its Anny Klawa Morf Foundation, AKM for short. The foundation, founded by the SP in 2019, says it stands for “progressive political education in Switzerland”. Chairman of the Foundation is SP-National Council member Eric Nussbaumer (62). Anny Klawa-Morf (1894-1993) was a Swiss women’s rights activist and SP member.

CS pays the most

Unlike other parties, the SP itself does not accept donations from companies – with the exception of cooperatives and operating companies such as Mobiliar and Raiffeisen. The AKM, on the other hand, does. “The foundation is close to the party, but is independent of SP Switzerland,” says spokeswoman Lena Allenspach. And that has also been correctly signaled, she emphasizes.

In 2021, AKM received an untied donation – so without conditions – of CS 201,000 francs. The year before that was 206,000 francs. During these years, the foundation also accepted uncommitted donations from other companies, such as the insurance companies Axa and Groupe Mutuel, albeit on a smaller scale of around CHF 30,000 each. Credit Suisse was by far the largest donor.

CS paid parties 1 million per year

AKM also accepts donations from other banks, but project-related. Last year, UBS and Bank Julius Bär gave CHF 10,000 each. The untied CS donation covers nearly two-thirds of the foundation’s corporate donation income.

In 2022, the amount available from CS will probably have been somewhat lower as the SP lost mandates in the cantons. CS supports the parties to promote the militia system with a total of one million francs per year – depending on their size at the federal and cantonal level. The chairman of the foundation, Nussbaumer, expects that the large bank donation will no longer be necessary after the takeover by UBS.

UBS doesn’t donate to everyone

“Then we would have to limit our activities,” he says. Despite all the criticism of CS managers’ mismanagement, Nussbaumer says it must be maintained that Credit Suisse’s donation model was exemplary in terms of corporate social responsibility. Unlike the big bank, which CS just swallowed.

UBS only gives money to parties that do what suits them. State Councilor Nussbaumer makes it clear that this will not be accepted.

Source:Blick